Search Legislation

Finance Act 1989

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 183

 Help about opening options

Alternative versions:

Changes to legislation:

There are currently no known outstanding effects for the Finance Act 1989, Section 183. Help about Changes to Legislation

183 Government securities: redemption and transfer.U.K.

(1)In section 47 of the M1 Finance Act 1942 (power to makeregulations about transfer and registration of Government stock)—

(a)the following paragraph shall be inserted after paragraph (b) ofsubsection (1)—

(bb)for the redemption of such stock and bonds;and

(b)the following subsection shall be inserted after that subsection—

(1A)Regulations under subsection (1) of this section may make provisionauthorising the Bank of England, in such circumstances and subject to suchconditions as may be prescribed in the regulations, to transfer stock andbonds standing in their books in the name of a deceased person into the nameof another person without requiring the production of probate, confirmationor letters of administration.

(2)In section 3(1) of the M2 National Debt Act 1972 (powerto make regulations about stock on the National Savings Stock Register) thefollowing paragraph shall be inserted after paragraph (b)—

(bb)the redemption of stock registered in the register,.

(3)After section 14 of the M3 National Loans Act 1968 thereshall be inserted—

14A Redemption of securities held in Issue Department of Bank of England.

(1)Any securities of Her Majesty’s Government in the United Kingdom which arefor the time being held in the Issue Department of the Bank of England may beredeemed by the Treasury before maturity at market prices determined in suchmanner as may be agreed between the Treasury and the Bank.

(2)Any expensess incurred by the Treasury in connection with the redemptionof securities under subsection (1) above shall be paid out of the NationalLoans Fund.

Marginal Citations

Back to top

Options/Help

You have chosen to open The Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act without Schedules as a PDF

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?